The Token Analyst, one of the leading cryptocurrency analyst, announced on Twitter, Bitcoin (BTC) held in 8 crypto exchanges accounts to 7% of the overall supply of Bitcoin with an overall market value of $10 billion.
The tweet which was published on 8th October stated that cryptocurrency exchanges are one of the biggest holders of Bitcoins.
Bitcoin was first released in Satoshi Nakamoto’s white paper which called it “a peer to peer currency.” Since the release in 2008, thousand of cryptocurrencies have been released in the market which includes Ethereum, Litecoin, Ripple and many more.
At press time, Bitcoin is valued at $8,217, according to CoinMarketCap.
Wallets that hold cryptocurrencies and exchanges that help in trading cryptocurrencies have been increasing in the last few years, according to The Token Analyst.
The Token Analyst was started in 2017 which provides an in-depth analysis of Blockchain data stated that over 1.2 million Bitcoins have been held by 8 of the biggest crypto exchanges.
Huobi exchange is the biggest holder of Bitcoin after Binance and BitMEX.